Grupo Financiero Interacciones (GFI) has raised a total amount of MXN3500 million (US$192,6 million) n commitments from six investors for its Fondo Capital Infraestructura (FCI) fund on Friday, August 5th.

The initial target of GFI for the fundraising was MXN3750 million (US$206 million).

GFI’s initial public CKD (Certificado de Capital de Desarrollo) offering on Mexico’s stock exchange (BMV) was fully subscribed. It may deploy the commitments as and when the fund seeks to make investments. 

The first issue represented 20 % of the maximum amount of the issue and will be valid for 13 years.

Barclays is the fund’s placement and structuring agent. Vace Partners is the financial advisor. Creel, García-Cuellar, Aiza and Enríquez is legal advisor.

Proceeds from the fundraising will be aimed to a total of 22 projects including social infrastructure, oil and gas, electricity and renewable energy projects such as wind, solar and hydro.

According to the prospectus, the fund will target local greenfield projects offering gross returns of between 14% and 16%, and brownfield projects (12%-14%). The fund will target equity or subordinated debt investments.

GFI, which will invest up to 4.87% of the fund’s total size, will act as a parallel advisor. FCI will act independently of GFI.